Identify a real or hypothetical project (i.e. resurface the parking lot of an apartment complex) for which a product or service (like painting the parking space lines after resurfacing is completed) must be procured during the Execution phase. Once identified draft a proposal to include the following:
- Project Description
- Identification of the product or service that must be procured
- Identify three possible supplies for this project (i.e. painting company A, B, and C)
- After completing the matrix, provide a reflection on the process for selecting suppliers
- Identify at least one advantage and one disadvantage of the product selection process relative to another approach that could have been taken.
After identifying your hypothetical project, create a source selection matrix in Microsoft Excel. In your matrix, list five criteria (i.e. Price, proximity of headquarters to job site, supplier’s projection of how long the project will take, warranty duration, and attractiveness of payment terms) that are important in selecting one of the three alternative suppliers.
Once the source selection matrix is created in Excel and populated with suppliers and criteria, weight each criterion (using the same scale for all criterion), score each supplier relative to each criterion (using the same scale for all scores), and then multiply the weight of each criterion by the score for each supplier-criterion combination. Arrive at the optimal solution.
Support your assignment with at least three scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Length: 5-7 pages, not including title and reference pages